Section 121-1106. Mergers and consolidations involving other business entities  


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  • One or more domestic limited partnerships  formed  under  this
      article or which comply with subdivision (a) of section 121-1202 of this
      article  may merge with, or consolidate into, one or more other business
      entities formed under the law of this state or  the  law  of  any  other
      state,  in  each  case  with  the  surviving or resulting entity being a
      limited partnership or a domestic  or  foreign  other  business  entity;
      provided  that  (i)  any limited partnership so merging or consolidating
      complies with the provisions of this chapter so far as applicable to  it
      and  as applicable to any surviving or resulting limited partnership and
      (ii) any such other business entity so merging or consolidating complies
      with the applicable provisions  of  the  statute  governing  such  other
      business  entity.  With respect to adoption of an agreement of merger or
      consolidation pursuant to section 121-1102 of this article, the  general
      partners   of  each  constituent  limited  partnership  shall  adopt  an
      agreement of merger or consolidation (to be submitted to the partners of
      the limited partnership  as  provided  in  subdivision  (a)  of  section
      121-1102)  setting  forth  the terms and conditions of the conversion of
      the interests of the general and limited partners  of  such  constituent
      limited partnerships into interests in the surviving or resulting entity
      or  the  cash or other consideration to be paid or delivered in exchange
      for interests in such constituent limited partnerships, or a combination
      thereof. The rights of any dissenting limited partner of any constituent
      limited partnership shall be as provided in  this  chapter  whether  the
      surviving  or resulting entity is a limited partnership or a domestic or
      foreign  other  business  entity.   The   certificate   of   merger   or
      consolidation  required  pursuant  to  section  121-1103 of this article
      shall include the information required by paragraphs one, two, three and
      six of subdivision (a)  of  such  section  (as  applicable)  as  to  the
      constituent  other business entities. The provisions of section 121-1104
      of this article shall govern the effect of the merger  or  consolidation
      with  respect  to  the  property of, debts, obligations, liabilities and
      penalties of, and actions, suits and  proceedings  by  or  against,  the
      constituent  limited  partnership  if  the  survivor or resultant entity
      therefrom  is  a  limited  partnership.  A  certificate  of  merger   or
      consolidation  shall  be  filed with the department of state pursuant to
      the law applicable  to  such  surviving  or  resulting  entity.  If  the
      surviving  or resulting entity is an other business entity for which the
      laws of this state do not provide for the filing  of  a  certificate  of
      merger  or  consolidation,  such  certificate shall be filed pursuant to
      this section.